DPR To Issue Award Letters To Successful Marginal Field Investors In Nigeria

The Department of Petroleum Resources (DPR) says it has concluded arrangements to issue award letters to successful investors in the 2020 marginal field bid round programme that seeks to improve the oil and gas Industry.

The DPR said the letters would be issued at an award ceremony scheduled to hold in Abuja on May 31.

Head, Public Affairs, DPR, Paul Osu, made the announcement in a statement on Saturday in Lagos.

The News Agency of Nigeria (NAN) reports that a marginal field is any field that has reserves booked and reported annually to the DPR and has remained unproduced for a period of over 10 years.

Mr Osu said the successful investors who would be receiving their award letters were companies that had fully satisfied all requirements listed in the marginal field bid round guidelines.

He said this included full payment of signature bonuses within the specified time frame.